We would all like to think that we can trust the people we do business with. However, it seems that there are an endless amount of scams in just about every industry. Even the smartest people can end up a victim of fraud. 

Types of Fraud

There are several different types of fraud. The most common include:

• identity theft- when someone uses your personal information to buy things, take out credit cards, or loans. 
• telemarketing fraud- when telemarketers lie or use illegal tactics to obtain money. 
• Ponzi schemes- when a company takes money from one person with the promise of spending it one way but uses it to pay someone else back. 
• health insurance fraud- when a health provider company forces products on patients in order to charge their insurance. 

What to Do

If you've become a victim of fraud, you must take immediate action. Here are some steps to take to get your finances back on track. 

1. Contact your bank

Stop any future financial loss by getting new banking information. The bank can help determine whether you only need a new card or a whole new bank account. You'll also want to change any passwords associated with the affected accounts. 

2. Contact the credit bureaus 

Being the victim of a scam can mean that your credit score takes a hit. When this happens, you may have trouble receiving credit for general spending, your business, a new car, or a new home. Let the three main credit agencies know your situation so that they can put a hold on your account to prevent it from getting any lower. The three credit agencies are TransUnion, Experian, and Equifax. 

3. Contact a lawyer

Reach out to a local fraud law attorney like the Law Offices of Athina K. Powers. You can find out if your situation does indeed qualify as fraud. They can also guide you in your combined mission to make things right. 

Protect Yourself

Prevent anything from happening again by learning how to protect yourself. 

1. Be careful when you give out personal information

If you are unsure of a company, be careful with the information you give them. Your social security number is especially vulnerable, so give it out cautiously. 

2. Research

One of the easiest ways to protect yourself is to learn about the company you are considering doing business with. Take the time to do research and see what other people have to say.